Salem Media Group Announces Transfer of Salem Music Networks to Christian FM Media

Rhea-AI Summary

Salem Media Group (OTCQX: SALM) has transferred ownership of its Today's Christian Music and Today's Worship Music networks to Christian FM Media Group. The transfer, effective February 1, follows Salem's recent divestiture of Contemporary Christian Music stations. Christian FM Media has assumed network operations, ensuring continuous programming services for all Salem Music affiliates.

The networks will continue to operate independently, maintaining market exclusivity agreements. Jayme Summers, former Program Director and Operations Manager for Salem Music Networks, has joined Christian FM in the same role. Christian FM plans to implement new delivery technology, offering greater music flexibility and more personality choices to affiliated stations.

Positive

• Strategic transfer ensures continuity of service for existing affiliates
• Retention of key personnel (Jayme Summers) maintains operational expertise
• Planned technology improvements by Christian FM could enhance service quality

Negative

• Divestiture of CCM stations indicates reduction in Salem's music business segment
• Loss of direct control over music network operations

CAMARILLO, Calif.--(BUSINESS WIRE)-- Salem Media Group, Inc. (OTCQX: SALM) announced today the transfer of ownership of the Today’s Christian Music and Today’s Worship Music networks to the Christian FM Media Group. This transfer has provided seamless programming services to continue for all Salem Music affiliates as Christian FM Media assumed network operations on February 1. The Salem Music Networks were affected by the recent divestiture of Salem’s Contemporary Christian Music (“CCM”) stations. Concerned for the programming needs of affiliates, Salem sought out Christian FM to ensure that affiliates continued to have the highest quality programming content available. The transfer announced today offers affiliates the option to easily and immediately continue with great CCM programming. Today’s Christian Music and Today’s Worship Music will continue to operate as unique networks. Christian FM’s SmartRadio Suite affiliates will continue to operate independently as well, and all market exclusivity agreements will remain.

Allen Power, Salem President of Broadcast Media commented, “Our recent divestitures led to understandable uncertainty for our Music Network affiliates. Thanks to this partnership with Christian FM, we have been able to quickly provide those affiliates with a fairly seamless opportunity to maintain excellent CCM/Worship Music programming on their stations. The team at Christian FM and SmartRadio Suite has collaborated wonderfully to create a new programming home for our affiliates.”

Jon Hamilton, Christian FM’s President commented, “We are delighted to be able to carry the important legacy of the Salem Music Network into the future. Many of the wonderful talent associated with Salem’s network and local CCM stations will be working with us and will continue to encourage listeners on affiliated stations across America.” Hamilton added, “In the months ahead, we will be making some exciting new delivery technology available to these stations, allowing even greater music flexibility and more personality choices. Christian FM has long been known for creating unique custom content to stations and we intend to expand this capability to the TCM and TWM affiliates as well.”

Jayme Summers, current Program Director and Operations Manager for the Salem Music Networks, has joined Christian FM in that same role for TCM and TWN.

About Christian FM Media Group, LLC:

Christian FM is America’s content provider for Christian music radio. Christian FM now offers three distinct music formats to stations and syndicates America’s most loved Christian radio personalities like Brant Hansen, Lisa Barry, Doug Hannah, Kevin and Amy, and more than a dozen of the best communicators anywhere on radio. To find out how Christian FM Media can help your station, contact Paul Tipton, VP. ptipton@christianfm.com.

About Salem Media Group, Inc.:

Salem Media Group is America’s leading multimedia company specializing in Christian and conservative content, with media properties comprising radio, digital media and book and newsletter publishing. Each day Salem serves a loyal and dedicated audience of listeners, readers and viewers numbering in the millions nationally. With its unique content focus, Salem provides compelling audio and video programming, text content, fresh commentary and relevant information from some of the most respected figures across the Christian and conservative media landscape. Learn more about Salem Media Group, Inc. at www.salemmedia.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250130876297/en/

Company Contact:

Evan D. Masyr

Executive Vice President and Chief Financial Officer

(805) 384-4512

evan@salemmedia.com

Source: Salem Media Group, Inc.

FAQ

What assets did Salem Media Group (SALM) transfer to Christian FM Media?

Salem Media Group transferred ownership of Today's Christian Music and Today's Worship Music networks to Christian FM Media Group.

When did Christian FM Media take over Salem's music network operations?

Christian FM Media assumed network operations on February 1, 2024.

Will SALM's existing music network affiliates maintain their programming?

Yes, affiliates have the option to continue their CCM programming seamlessly under Christian FM Media's management.

What improvements is Christian FM planning for former SALM music networks?

Christian FM plans to implement new delivery technology offering greater music flexibility and more personality choices for affiliated stations.

What prompted SALM to transfer its music networks to Christian FM Media?

The transfer was prompted by Salem's recent divestiture of Contemporary Christian Music stations and the need to ensure continued programming services for affiliates.